KFIL (Kirloskar Ferrous Industries Limited), a prominent name in India's castings and pig iron manufacturing industry, successfully completed all necessary steps to acquire management and operational control of Oliver Engineering, a company specializing in ferrous casting and machining, on September 29, 2023. This acquisition received approval from the National Company Law Tribunal (NCLT) through its order dated September 12, 2023. Notably, the financial and legal aspects of this transaction were overseen by KPMG and Pioneer Legal, respectively.

Commenting on this development, R. V. Gumaste, Managing Director of KFIL said , "We welcome Oliver Engineering to the KFIL family. This acquisition aligns with our objectives, giving us the opportunity to expand our geographical reach and cater to the growing needs of our customers in Northern India. Given the plant's non-operational status, it is estimated that it will require around 4 to 5 months   becoming operational."